Indian RegTech startup Data Sutram secured a significant $9 million Series A funding round, led by B Capital and Lightspeed Ventures. This funding marks an important step for the company’s expansion plans into new markets such as cryptocurrency and real-time payments. 🧠Leveraging their expertise in AI and data intelligence, Data Sutram aims to combat fraud across various sectors, including financial services and digital finance.
The funding will also support further development of their advanced AI platform, designed to analyze digital patterns and effectively prevent fraud. The company’s expansion into the cryptocurrency domain highlights their commitment to addressing emerging challenges in this dynamic field. This investment reinforces confidence in Data Sutram’s solutions following prior funding rounds totaling $5.07 million.
Co-founder Rajit Bhattacharya highlights the significant increase in fraudulent activity within banking and finance due to digitalization, lending, and transactions. The company’s strategic focus on AI and data intelligence positions them well for tackling these emerging challenges and achieving continued success.